ACG, Shahdeniz, Absheron provide energy security for many countries: Azerbaijani president
Azeri-Chirag-Gunashli, Shahdeniz, and Absheron provide energy security for many countries, said President Ilham Aliyev as he addressed the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the 3rd Green Energy Advisory Council Ministerial Meeting.
“Many more oil and gas fields will become operational within several years. Contracts have been signed, and the working program has been approved. The construction of pipelines – such as the Baku-Tbilisi-Jeyhan and Baku-Supsa oil pipelines, and the Southern Gas Corridor - was carried out in cooperation, as I said, by all the actors,” the head of state said, News.Az reports, citing AZERTAC.
“We must be sure that our gas will be needed in Europe, which is our main market for many more years,” he noted.
The president added, “Without this guarantee, investors will not invest, and the country will not invest. So, there'll be a big shortage of natural gas. Our reserves are known. We expect new production from new fields this year.”
He emphasized that Azerbaijan is actively developing its hydropower potential with its own investments. “We can imagine that Azerbaijan will play an even more important role for our partners with respect to energy security,” President Aliyev said.
Noting that there are already signed agreements with the investors, the head of state added: “Contracts with our investors on solar and wind power stations will allow us to have 6 GW of solar and wind energy by 2030. As I said, that will save a lot of natural gas which we currently use to produce electricity domestically, and all of that will all be available for export. We are actively developing this sector with our own investments. There is also hydropower potential today in the territories of East Zangezur and Karabakh, which were liberated from Armenian occupation.”
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